NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, March 9, 2005

Last year, a panel of judges from Wharton joined with Nightly Business Report, the most-watched daily business program on U.S. television, to name the 25 most influential business people of the last 25 years. On that list was Muhammad Yunus, managing director of Grameen Bank in Bangladesh and a pioneer in the practice of microcredit lending. Grameen Bank received formal recognition as a private independent bank in 1983 and, as of this month, had dispersed close to $5 billion in loans to four million borrowers, 96% of them women. Grameen’s strategy is to offer miniscule loans to very poor people, giving them the means to generate income and work their way out of poverty.
Interview available here.